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  1. Terry_w

    Loan structure advice?

    No need to notify anyone (from the tax point of view anyway). The main residence issue is a question of fact. There is no definition of the term 'main residence' in the tax act so the words take their ordinary meanings. Main would mean principle. Residence would be some form of dwelling...
  2. Terry_w

    Loan structure advice?

    It would be better not to guess this. Stamp duty is not administered by the ATO so what they said would not apply. You should look into the relevant state revenue authority and stamp duty legislation.
  3. Terry_w

    Loan structure advice?

    Yes, you are missing the correct interpretation of the law. it is true that the legislation does not list a minimum period that you must live in the property. However you must make it the main residence to get this exemption. 'moving in' won't cut it. You must physically live there. I would...
  4. Terry_w

    Loan structure advice?

    You generally won't be able to claim renovations even if it was rented. Renovations are generally capital works which are depreciated. If you live in the property initially you could potentially claim it as the main residence for up to 6 years after you have moved out and it could be exempt...
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